Private Equity Firm KKR To Merge NBFC With InCred’s Retail Franchise

Global private equity firm KKR is set to back Mumbai-based InCred Finance, a retail and MSME-focused non-banking finance company (NBFC). 

The equity infusion is understood to be effectively a merger of KKR’s NBFC with InCred’s retail franchise. KKR will pick up a large minority stake in InCred,

The combined entity will operate under the InCred brand name, and post the deal, the merged book size will be around INR 6,000 Cr with a relatively low debt-equity ratio.

InCred has raised over INR 1,000 Cr till date from a range of investors including Investcorp, Manipal chief Ranjan Pai, Dutch Govt-owned FMO, Moore Venture Partners, Paragon, Elevar and OAKS Asset Management amongst others. KKR India Financial Services Ltd also has two other marquee investors – Abu Dhabi Investment Authority (ADIA) and Texas Teacher Retirement System. Both these investors will also join the InCred equity roster.

7 views0 comments
  • Amazon Social Icon
  • Facebook Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon
  • Instagram

© 2021 by StartupNews. Proudly created in India